R. Stahl Fully Writes Off Its Investment in ZAVOD Goreltex

• R. STAHL AG has decided to fully write off its 25 percent investment in Russian company ZAVOD Goreltex Co. Ltd.
• This decision follows the conversion of 75 percent of the shares of the previous majority owner, Global Invest, to ownership of the Russian Federation, increasing the risk of expropriation of R. STAHL's minority shareholding.
• The investment will be fully impaired to its carrying amount of €10.3 million in R. STAHL AG's consolidated financial statements for 2023.
• The impairment will negatively impact the financial result but will not affect liquidity and has no impact on EBITDA pre exceptionals.
• Currency translation effects of € -3.2 million, previously recognized directly in equity due to the at-equity accounting of the investment, will be recognized in the financial result.
• These two transactions will lead to a non-cash charge of € 13.5 million on the R. STAHL Group's net profit for the financial year 2023.

The next important date, Publication Annual Financial Report, at R. Stahl is on 17.04.2024.

The price of R. Stahl at the time of the news was 20,900EUR and was down -1,88 % compared with the previous day.

R. Stahl

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ISIN:DE000A1PHBB5WKN:A1PHBB

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